The flag of the British Airports Authority (BAA) has proportions 2:3, with a
white field and the letters BAA in black and logo in green.Eugene Ipavec, 1 October 2007

The British Airports Authority was established in 1965, by the Airports
Authority Act of that year. Prior to this, commercial aviation in the United
Kingdom was controlled by the Ministry of Defence. In
1986, the company was privatised (denationalised) as BAA plc and under the
Airports Act 1986 (Nominated Company) Order 1986, BAA plc became the successor
company to the authority. The company's position is that the letters do not
stand for anything (my emphasis). However, it is still widely referred to as
"British Airports Authority". People obviously assume the initials must stand
for something.

In 2006, the company was acquired by a consortium led by the Spanish
construction company Grupo Ferrovial and on 15 August of that year, it was
delisted from the London Stock Exchange, becoming BAA Limited. Today it owns and
operates seven United Kingdom airports and has management contracts at a number
of other international airports in Australia, the United States of America and
Italy.Colin Dobson, 17 November 2007